Forest Laboratories Investor Conference Call Regarding Acquisition of Furiex Pharmaceuticals To Take Place at 9:30 AM EST
April 28 2014 - 8:21AM
Business Wire
Forest Laboratories, Inc. (NYSE:FRX) will hold a conference call
with investors at 9:30 AM EST today to discuss the details of this
morning’s announcement that Forest has entered into a definitive
agreement to acquire Furiex, a drug development collaboration
company. Note that the call time has been changed from 8:30 AM
EST.
The conference call will be webcast live on the Company’s
website at www.frx.com. Please log on to the website at least
fifteen minutes prior to the conference call as it may be necessary
to download software to access the call. A replay of the conference
call will be available until May 28, 2014 by dialing (800) 839-1246
(US or Canada) or +1 (402) 220-0464 (international).
About Forest Laboratories and Its Products
Forest Laboratories (NYSE: FRX) is a leading, fully integrated,
specialty pharmaceutical company largely focused on the United
States market. Forest markets a portfolio of branded drug products
and develops new medicines to treat patients suffering from
diseases principally in five therapeutic areas: central nervous
system, cardiovascular, gastrointestinal, respiratory, and
anti-infective. Forest’s strategy of acquiring product rights for
development and commercialization through licensing, collaborative
partnerships and targeted mergers and acquisitions allows Forest to
take advantage of attractive late-stage development and commercial
opportunities, thereby managing the risks inherent in drug
development. In January 2014, Forest acquired Aptalis
Pharmaceuticals for $2.9 billion in cash in order to gain access to
its GI and Cystic Fibrosis products, including treatments for
Ulcerative Proctitis, Duodenal Ulcers, H. Pylori, Anal Fissures,
and Pancreatic Insufficiency. In February 2014, Forest and Actavis
plc announced an agreement where Forest would be acquired for about
$25 billion in cash and stock. The acquisition of Forest by Actavis
is contingent upon regulatory and shareholder approvals.
Forest is headquartered in New York, NY.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements involve a number of risks and uncertainties,
including that the transactions may not be timely completed, if at
all, that prior to completion of the transactions, Furiex’s
business may experience significant disruptions due to
transaction-related uncertainty or other factors, the timing and
the benefits of the business combination transaction, the ability
to obtain regulatory approvals of the transaction on the proposed
terms and schedule, the requirement that Furiex’s security holders
approve the transaction, the risk that the businesses will not be
integrated successfully, the difficulty of predicting FDA
approvals, the acceptance and demand for new pharmaceutical
products, the impact of competitive products and pricing, the
timing of Actavis plc’s acquisition of Forest, the timely
development and launch of new products, and the risk factors listed
from time to time in Forest Laboratories’ Annual Report on Form
10-K, Quarterly Reports on Form 10-Q and any subsequent SEC filings
and Furiex’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and any subsequent SEC filings. Neither Forest nor Furiex
assumes any obligation to update forward-looking statements
contained in this release to reflect new information or future
events or developments. Each of Forest and Furiex intends such
forward-looking statements to be covered by the Safe Harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and is including this
statement for purposes of complying with these Safe Harbor
provisions. Forward-looking statements, which are based on certain
assumptions and describe future plans, strategies and expectations
of each of Forest and Furiex, may be identified by use of the words
“believe,” “expect,” “intend,” “anticipate,” “project,” or similar
expressions. Investors should not rely on forward-looking
statements because they are subject to a variety of risks,
uncertainties and other factors that could cause actual results to
differ materially from such forward-looking statements. All
forward-looking statements in this document are qualified in their
entirety by this cautionary statement.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. In connection with the
proposed acquisition of Furiex by Forest, Furiex will file a proxy
statement with the SEC (the “Furiex Proxy”). Additionally, Furiex
will file other relevant materials with the SEC in connection of
the proposed acquisition. The Furiex Proxy and other materials that
Furiex plans to file with the SEC will contain important
information about Furiex, Forest, the proposed merger and related
matters. The Furiex Proxy will be delivered to the security holders
of Furiex. In connection with the proposed merger between Actavis,
plc (“Actavis”) and Forest, Actavis has filed with the SEC a
registration statement on Form S-4 that includes a preliminary
joint proxy statement of Actavis and Forest that also constitutes a
preliminary prospectus of Actavis (the “Forest/Actavis Proxy and
Prospectus”). The registration statement is not yet effective. The
definitive Forest/Actavis Proxy and Prospectus will be delivered to
security holders of Actavis and Forest. INVESTORS AND SECURITY
HOLDERS ARE URGED TO READ THE FURIEX PROXY, THE FOREST/ACTAVIS
PROXY AND PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE
SEC THAT HAVE BEEN OR WILL BE FILED WITH THE SEC CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED ACQUISITION AND THE
PARTIES THERETO THAT SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING
A DECISION ABOUT THE MERGER. Security holders of Furiex may obtain
free copies of the Furiex Proxy and other documents filed with the
SEC by Forest or Furiex, without charge, from the SEC's website
(http://www.sec.gov). In addition, investors and security holders
of Furiex may obtain free copies of the documents Furiex files with
the SEC by directing a written request to Furiex Pharmaceuticals,
Inc., 3900 Paramount Parkway, Suite 150, Morrisville, NC 27560,
Attention: Investor Relations. Copies of Furiex’s filings with the
SEC may also be obtained at the “Investors” section of Furiex’s
internet website at www.furiex.com. Investors and security holders
of Actavis and Forest may obtain free copies of the Forest/Actavis
Proxy and other documents filed with the SEC by Actavis and Forest,
without charge, from the SEC's website (http://www.sec.gov). In
addition, copies of the documents filed with the SEC by Actavis may
be obtained free of charge on Actavis’ internet website at
www.actavis.com or by contacting Actavis’ Investor Relations
Department at (862) 261-7488. Copies of the documents filed with
the SEC by Forest may be obtained free of charge on Forest’s
internet website at www.frx.com or by contacting Forest’s Investor
Relations Department at (212) 224-6713.
Participants in the Solicitation
Forest, Furiex and their directors and certain of their
executive officers may be considered participants in the
solicitation of proxies from the security holders of Furiex in
connection with the proposed transaction between Forest and Furiex.
Information about those directors and executive officers of Furiex,
including their ownership of Furiex securities, is set forth in the
proxy statement for Furiex’s 2014 Annual Meeting of Stockholders,
which was filed with the SEC on April 11, 2014, as supplemented by
other Furiex filings with the SEC. Information about the directors
and executive officers of Forest is set forth in its proxy
statement for its 2013 annual meeting of stockholders, which was
filed with the SEC on July 8, 2013 and certain of its Current
Reports on Form 8-K. Investors and security holders may obtain
additional information regarding the direct and indirect interests
of Furiex, Forest and their directors and executive officers in the
proposed transaction by reading the applicable proxy statement and
other public filings referred to above. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, will be contained in the Furiex Proxy and
other relevant materials to be filed with the SEC when they become
available.
Actavis, Forest, their respective directors and certain of their
executive officers and employees may be considered participants in
the solicitation of proxies in connection with the proposed
transaction between Actavis and Forest. Information regarding the
persons who may, under the rules of the SEC, be deemed participants
in the solicitation of the Actavis and Forest shareholders in
connection with the proposed merger will be set forth in
Forest/Actavis Proxy and Prospectus when it is filed with the SEC.
Information about the directors and executive officers of Forest is
set forth in its proxy statement for its 2013 annual meeting of
stockholders, which was filed with the SEC on July 8, 2013 and
certain of its Current Reports on Form 8-K. Information about the
directors and executive officers of Actavis is set forth in
Actavis’ proxy statement for its 2014 annual meeting of
shareholders, which was filed with the SEC on March 28, 2014.
Additional information regarding the participants in the proxy
solicitations and a description of their direct and indirect
interests, by security holdings or otherwise, are contained in the
preliminary Forest/Actavis Proxy and Prospectus and will be
contained in the definitive Forest/Actavis Proxy and Prospectus and
other relevant materials to be filed with the SEC when they become
available.
FOREST InvestorsFrank J. Murdolo, 212-224-6714Vice President,
Investor Relationsmedia.relations@frx.comorFOREST – MediaAmanda
Kaufman, 646-231-7316Media Relationsamanda.kaufman@frx.com
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